Welcome to our dedicated page for Rackspace Technology news (Ticker: RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.
Rackspace Technology, Inc. (RXT) is a leading provider of end-to-end, hybrid, multi-cloud technology services. The company specializes in designing, building, and operating its customers' cloud environments across all major technology platforms, including OpenStack, Microsoft, and VMware. Rackspace offers a comprehensive suite of solutions categorized into Application Services, Data, Colocation, Cloud, Managed Hosting, Professional Services, and Security & Compliance. This diverse service portfolio enables businesses to leverage cloud computing without the complexity and cost of managing IT infrastructure and applications independently.
Serving over 300,000 customers globally, including two-thirds of the Fortune 100, Rackspace is renowned for its Fanatical Support®—a results-driven service that emphasizes customer success. The company's expertise is further validated by its recognition as a leader in the Gartner Magic Quadrant for Cloud-Enabled Managed Hosting and its repeated inclusion in Fortune’s list of best companies to work for.
Rackspace is constantly innovating, as evidenced by its partnership with Google Cloud to showcase generative AI services and solutions. Their Foundry for AI by Rackspace (FAIR) initiative is dedicated to advancing business transformation and improving customer experiences through responsible AI technologies. FAIR has identified over 500 AI use cases and is actively working on industry-leading implementations worldwide.
Recent advancements include the integration of a Generative AI-enabled intelligent system with Microsoft Azure OpenAI Service, significantly enhancing data retrieval and business insights capabilities. Additionally, Rackspace has collaborated with healthcare organizations like Seattle Children's to manage critical workloads, ensuring improved patient care and optimized operations.
Rackspace's commitment to innovation extends to ethical AI practices, as demonstrated by their partnership with OhioX to promote responsible AI adoption and drive economic growth in Ohio. The company’s broad expertise and strategic partnerships enable it to support a wide array of industries, helping them modernize applications and adopt cutting-edge technologies.
For more information, visit www.rackspace.com.
Rackspace Technology (NASDAQ: RXT) partnered with MDC Partners to consolidate data expenditures under a single contract, enhancing operational efficiency and leveraging buying power. This collaboration transitioned MDC's decentralized AWS environment into a cohesive solution in under nine months, significantly reducing administrative burdens. Key figures include the reduction of multiple agency billing and increased visibility into overall spending. The strategic use of AWS Optimizer+, CloudHealth, and Managed Public Cloud facilitated a swift digital transformation for MDC's global operations.
Rackspace Technology (NASDAQ: RXT) announced a collaboration with Pure Storage to enhance its storage-as-a-service (STaaS) using Google Anthos. This partnership focuses on providing companies with on-premises performance in a cloud-like environment, benefiting over 8,000 Pure Storage customers across various sectors, including finance and healthcare. The teams achieved a high-performing reference architecture in just 45 days, significantly faster than expected. This effort aims to streamline data management and integration for Fortune 500 companies, enhancing their operational efficiency.
Rackspace Technology (NASDAQ: RXT) has partnered with Innovyze to enhance its software offerings through IoT and cloud-native solutions. This collaboration enables Innovyze to introduce Info360.com, a SaaS platform that allows water utilities to leverage real-time data and Dynamic Digital Twins for improved operational efficiency. The platform is built on AWS and offers scalability, security, and reduced IT overhead. By integrating advanced technologies, Innovyze can provide accurate models while lowering barriers for utilities to access cutting-edge tools.
Rackspace Technology (NASDAQ: RXT) announced its participation in several upcoming investor conferences. Key events include:
- J.P. Morgan Global Technology Conference on May 26, 2021, featuring a fireside chat at 3:40 PM ET with CFO Amar Maletira.
- Cowen Technology Conference on June 2, 2021, with a presentation at 3:10 PM ET by Amar Maletira.
- Evercore ISI TMT Conference on June 8, 2021, with a fireside chat at 3:30 PM ET involving CEO Kevin Jones and CFO Amar Maletira.
Live webcasts for each event will be available through provided links.
Rackspace Technology has successfully migrated Brooks Macdonald Group to a new managed private cloud architecture, enhancing IT efficiency following a decade of growth. This transition involved managing Microsoft Office 365 licensing and adopting Rackspace Managed Security Services to bolster security and compliance. The new setup reduces the number of technology partners while offering advanced threat detection and response. Brooks Macdonald, with £15.6 billion in discretionary funds under management as of March 31, 2021, aims to explore additional services, including public cloud integration.
Rackspace Technology (NASDAQ: RXT) has partnered with FINCAD to migrate its legacy application to Amazon Web Services (AWS). This collaboration aims to enhance application performance and streamline management through increased automation. By leveraging Rackspace's support, FINCAD will modernize its infrastructure, improve productivity, and reduce operational costs. The migration will also empower FINCAD to further transition additional elements to the cloud, optimizing their technology stack and ensuring effective security and compliance practices.
Rackspace Technology (RXT) has been awarded the title of AWS Migration Partner of the Year for Canada by Amazon Web Services. This recognition highlights Rackspace's expertise in aiding customers with their digital transformations and cloud migrations. The company, through its dedicated AWS business Onica, holds 15 AWS competencies and has achieved over 2,700 certifications. This accolade follows Rackspace's previous recognition in the UK and Ireland as APN Migration Partner of the Year in November 2020.
Rackspace Technology (NASDAQ: RXT) has been recognized as a Top 15 Sourcing Standout by Information Services Group (ISG), ranking among leading providers globally and across regions due to strong annual contract value (ACV) wins in the past year. This acknowledgment highlights Rackspace's double-digit revenue growth in 2020 and exceptional earnings leverage. The ISG Index™ serves as an authoritative source for market intelligence, indicating Rackspace's significant position in the multicloud services sector.
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